Recapitalization of Star Trac with a Private Investment Group
Baird served as the exclusive financial advisor to Star Trac on this transaction.
AboutStar Trac, a global leader in the commercial fitness industry, recently completed a recapitalization whereby a private investment group led by Michael Bruno, owner of fitness equipment OEM Land America, acquired substantially all of the equity in the reorganized company. Financial terms of the transaction were not disclosed.
Based in Irvine, California and founded in 1979, Star Trac is one of the premier platforms in the global commercial fitness equipment industry. Star Trac manufactures and markets a complete line of cardiovascular and strength equipment, including E-Series Cardio, Impact Strength, HumanSport Strength, the Instinct Circuit program and the recently launched Inspiration line. Over 4 million people in over 75 countries exercise on Star Trac equipment daily in health clubs, hotels, apartment complexes, therapy centers, universities, corporate gyms and on military facilities.
Michael Bruno, a highly respected fitness industry veteran for more than 20 years, is also the owner of Vancouver, Washington-based Stairmaster and Land America, a manufacturing firm in China that builds high-end consumer and commercial fitness equipment.
The Star Trac transaction is Baird’s third major fitness industry transaction within the last nine months. Baird sold Nautilus Inc.’s commercial strength and cardio lines, as well as its manufacturing plant in Independence, Virginia, to Med-Fit Systems, Inc. in February. The firm also sold Nautilus’ StairMaster and certain assets of Schwinn Fitness to Land America, Michael Bruno’s organization, in December 2009.
For additional information about this transaction, please contact:
- July 2010
- Star Trac
- Target Location
- North America
- Acquiror Location
- North America